Is Reddit going to be held responsible for allowing the coordination of stock market manipulation on their platform? Can the firm sue Condé Nast? I mean 5B is a bit more than I think Condé Nast or cuck-spez can pony up.
IANAL, but it would seem that a lot of these Redditors are about to be hunted and buttfucked by the SEC after SPEZ and Co start turning in their IP addresses so they don't get sued into oblivion. But like I said, IANAL...
https://www.law.cornell.edu/uscode/text/7/9
(1)Prohibition against manipulation
It shall be unlawful for any person, directly or indirectly, to use or employ, or attempt to use or employ, in connection with any swap, or a contract of sale of any commodity in interstate commerce, or for future delivery on or subject to the rules of any registered entity, any manipulative or deceptive device or contrivance, in contravention of such rules and regulations as the Commission shall promulgate by not later than 1 year after July 21, 2010, provided no rule or regulation promulgated by the Commission shall require any person to disclose to another person nonpublic information that may be material to the market price, rate, or level of the commodity transaction, except as necessary to make any statement made to the other person in or in connection with the transaction not misleading in any material respect.
Gotcha, what you linked is related to insider trading and non public information disclosure specifically. This will definitely be an interesting situation to watch play out.
Is Reddit going to be held responsible for allowing the coordination of stock market manipulation on their platform? Can the firm sue Condé Nast? I mean 5B is a bit more than I think Condé Nast or cuck-spez can pony up.
Spez is only worth about $4 million. He sold his half of Reddit to Conde Nast back in 2006.
IANAL, but it would seem that a lot of these Redditors are about to be hunted and buttfucked by the SEC after SPEZ and Co start turning in their IP addresses so they don't get sued into oblivion. But like I said, IANAL... https://www.law.cornell.edu/uscode/text/7/9 (1)Prohibition against manipulation It shall be unlawful for any person, directly or indirectly, to use or employ, or attempt to use or employ, in connection with any swap, or a contract of sale of any commodity in interstate commerce, or for future delivery on or subject to the rules of any registered entity, any manipulative or deceptive device or contrivance, in contravention of such rules and regulations as the Commission shall promulgate by not later than 1 year after July 21, 2010, provided no rule or regulation promulgated by the Commission shall require any person to disclose to another person nonpublic information that may be material to the market price, rate, or level of the commodity transaction, except as necessary to make any statement made to the other person in or in connection with the transaction not misleading in any material respect.
Edit: I see one of them downvoted this...
What insider trading took place?
Like I said IANAL, but it would seem that manipulation of a stock is illegal if coordinated.
Gotcha, what you linked is related to insider trading and non public information disclosure specifically. This will definitely be an interesting situation to watch play out.